Knowing the best time to buy a car in Canada can save you thousands of dollars. Doing your homework and visiting several dealerships will guarantee you the best outcome for when you’re signing the paperwork.
Unfortunately, timing is just one of the several factors in getting a good deal on a new vehicle. Keep reading and you will learn about the best times to buy a car in Canada as well as some other pieces of homework you should keep in mind.
The best time to buy a car in Canada
The best time to buy a car in Canada is around August and September. This is when all the vehicle manufacturers start to advertise and ship the newer models to all their partnered dealerships.
For example, a car with the model year of 2024 will start being sold in August and September of 2023, months before the new year has even arrived.
This change-over in model years leaves the current models to be less desired. Many people hate having an “older” model of a car, especially when a new model is right around the corner. To offset this undesirable trait, cars have their price slashes in order to get sold. These cars start to lose their luster for every day the new models get closer.
How To Get a Good Deal On Your New Car
As mentioned at the beginning of this article, there is a bit of homework involved. Knowing the timing lets you in on the best time to buy a car, but you still need to find your way into a sweet spot. There is a fine balance between a car being sold cheaper and the level of inventory at any given car dealership.
Be Mindful of Inventory Levels
Car dealerships start to get desperate when they are over-stocked. Cars take up a lot of space and need to be stored on location. They understand that cars can lose value as they get older, especially if they’ve been sitting out in the rain and snow.
On the other side of the argument, car dealerships also know that everyone is looking for a deal. If they did a good job of selling their over-stocked vehicles, they know some people will still come in looking for that sweet deal. If their inventory is low, they will have the upper hand.
The trick is to catch them when they’re over-stocked on older models.
Know What You Want, Know What You Need
Set your sights on a specific vehicle make and model. You want to have your heart set on the car that you want to take home and drive every day. Don’t worry if you can’t find it. The point of this is to have a firm stance when negotiating. Car salesmen will often redirect your attention to a different model or special features you never wanted.
By knowing what you want, you are able to control every part of the negotiations. Knowing what you actually need can save you thousands of dollars in up-sold features. Do you really need heated seats? Do you need satellite radio?
Nitpick On The Warranty, Get Everything In Writing
Every car dealership will give you a warranty on your vehicle. What they won’t tell you is that your warranty will cover practically nothing, even if you purchase an additional warranty. There are many clauses in their warranty that will also void that warranty (such as getting an oil change elsewhere).
Ask your car salesmen about all the problems that do indeed come up with these models. There should be a solid list of things you can expect to wrong with your vehicle. Then ask if the warranty covers those problems. If they don’t, add them in. If they agree, get them to update the paperwork to include it.
If they refuse, ask them to lower the price to offset the inevitable repair costs down the line.